Celladon Loss Widens On Research And Other Expenses; Stock Up 9%

(RTTNews) - Celladon Corp (CLDN), a clinical stage biotechnology company, on Monday reported fourth-quarter net loss of $11.3 million compared with a loss of $6.2 million last year.

The company said the wider loss reflects higher research and development expenses, general overheads, as well as stock-based compensation expense.

Analysts polled by Thomson Reuters estimated a loss of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Celladon also elaborated on its CUPID2 trial evaluating the use of Mydicar to treat systolic heart failure, and for which it had obtained Breakthrough Therapy designation from the FDA.

The company said the CUPID2 trial is proceeding according to plan and it loos forward to un-blinding and announcing top-line data from this trial in late April 2015.

"we are well positioned to advance our pipeline and development initiatives in 2015," said CEO Krisztina Zsebo.